Effect of a high impact business ceasing operations before January
1, 2024; resolution; findings; penalty; appeal; penalty distribution
among taxing units
Sec. 14. (a) A high impact business owner that has received a
property tax credit under section 10 of this chapter is subject to this
section if the designating body adopts a resolution incorporating this
section for the high impact business owner.
(b) If:
(1) the high impact business owner ceases operations before
January 1, 2024, at a facility for which the property tax credit
was granted under this chapter; and
(2) the designating body finds that the high impact business
owner obtained a property tax credit under this chapter by
intentionally providing false information concerning the high
impact business owner's plans to continue operations at the
facilities located within the commission's jurisdiction;
the high impact business owner shall pay the amount determined
under subsection (e) to the county treasurer.
(c) A high impact business owner may appeal the designating
body's decision under subsection (b) by filing a complaint in the
office of the clerk of the circuit or superior court, together with a
bond conditioned to pay the costs of the appeal if the appeal is
determined against the high impact business owner. An appeal under
this subsection shall be promptly heard by the court without a jury
and determined not more than thirty (30) days after the time of the
filing of the appeal. The court shall hear evidence on the appeal and
may confirm the action of the designating body or sustain the appeal.
The judgment of the court is a final determination that may be
appealed in the same manner as other civil actions.
(d) If an appeal under subsection (c) is pending, the payment
required by this section is not due until after the appeal is finally
adjudicated and the high impact business owner's liability for the
payment is finally determined.
(e) The county auditor shall determine the amount to be paid by
the high impact business owner according to the following formula:
STEP ONE: For each year that the property tax credit provided
under section 10 of this chapter was in effect, determine the
amount of property taxes that were paid by the high impact
business owner.
STEP TWO: Determine the sum of the STEP ONE amounts.
STEP THREE: Multiply the sum determined under STEP TWO
by one and one-tenth (1.1).
(f) The county treasurer shall distribute money paid under this
section on a pro rata basis to the general fund of each taxing unit that
contained the inventory that was subject to the property tax credit
provided under section 10 of this chapter. The amount to be
distributed to the general fund of each taxing unit shall be
determined by the county auditor according to the following formula:
STEP ONE: For each year that the property tax credit provided
under section 10 of this chapter was in effect, determine the
amount of property taxes that were paid by the high impact
business owner to the taxing unit.
STEP TWO: Determine the sum of the STEP ONE amounts.
STEP THREE: Divide the STEP TWO sum by the sum
determined under STEP TWO of subsection (e).
STEP FOUR: Multiply the amount paid by the high impact
business owner under subsection (e) by the STEP THREE
quotient.
As added by P.L.146-2002, SEC.1.
Last modified: May 28, 2006